Investcorp’s real estate team has acquired a portfolio of 126 industrial properties across five major metropolitan areas. The purchase price was about $800 million.
NEW YORK, Nov. 21, 2019 /PRNewswire/ — Investcorp, a leading global provider and manager of alternative investment products, today announced that its US-based real estate team has acquired a portfolio of 126 industrial properties totaling 10.2 million square feet across five major metropolitan areas through two separate transactions for a total capitalization of approximately $800 million.
Mohammed Alardhi, Executive Chairman of Investcorp, said, “Our real estate business and the US market have been and will continue to be key drivers of our growth strategy. We are excited to build upon our position as one of the largest international buyers of US real estate through this transaction, which represents the biggest real estate portfolio acquisition in our history. This milestone demonstrates our confidence in the US market, our team’s prowess in identifying attractive investment opportunities with strong underlying fundamentals, and our ability to deploy greater capital behind our convictions.”
Alardhi continued, “With consumers and businesses increasingly demanding faster deliveries, industrial real estate assets close to major population centers will only become more important to efficient supply chains and enabling e-commerce. We have been actively building our industrial and logistics portfolio to capitalize on the opportunities of this secular growth trend and these transactions represent a major next step in our efforts.”
The acquisition provides Investcorp with a 91.5% leased portfolio of Class A and B warehouse, distribution, and light manufacturing/research and development buildings across logistics, e-commerce, industrial chemicals, and food services industries, among others. The portfolio is comprised of properties located across the major industrial markets of Atlanta, Georgia; Chicago, Illinois; Dallas, Texas; Charlotte, North Carolina, and Memphis, Tennessee.
Herb Myers, Managing Director in Real Estate Investment at Investcorp, said, “We have carefully assembled a robust industrial real estate portfolio of strategically-located assets in key markets. The opportunity to acquire these properties is consistent with our established criteria for real estate investments that generate stable cash flows, have high occupancies and are located in some of the most desirable industrial, logistics hubs across the country. With e-commerce continuing to drive demand for industrial and logistics assets nationally, we are pleased to further enhance our platform through this transaction.”
In the twelve months ending June 30, 2019, Investcorp has ranked as the fifth largest international buyer of US real estate, according to Real Capital Analytics. Investcorp currently owns approximately 240 industrial properties across the US totaling more than 20 million square feet, including this latest acquisition.
Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in six lines of business: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital.
As at June 30, 2019, the Investcorp Group had US $28.2 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 185 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 650 commercial and residential real estate investments in the US and Europe, for in excess of US $60 billion in transaction value.
Investcorp employs approximately 430 people across its offices in New York, London, Bahrain, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit: